Pandora's Stock Closed Down 16% (P)

Friday

Apr 25, 2014 at 9:01 PM

Megan Rose Dickey

Pandora had a rough day of trading, closing down 16%.

Even though Pandora reported better than expected earnings on Thursday, its stock tanked today

Last quarter, Pandora saw revenues of $194.3 million, well ahead of the $177.7 million analysts expected. Pandora also reported a loss of $0.13 per share, which is a penny better than analysts expected.

But the stock is down because of Pandora's disappointing guidance for Q2. Its guidance ranged from break-even to a profit of $0.03 per share on revenue $213 million to $218 million. But analysts were expecting a profit of $0.05 a share on revenue of $219 million.

Despite how investors reacted, Pandora is still growing. In Q1, listening hours grew 12% year-over-year to 4.8 billion. Pandora's number of active listeners also grew 8% to 75.3 million people.

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